EC30920 - INTRODUCTION TO ECONOMETRICS

Module Identifier

EC30920

Module Title

INTRODUCTION TO ECONOMETRICS

Academic Year

2007/2008

Co-ordinator

Dr Kobil Ruziev

Semester

Semester 2 (Taught over 2 semesters)

Pre-Requisite

EC10210 , EC10320 , EC10610 and appropriate quantitative background OR appropriate mathematics and statistics modules, EC10510 , EC10910 OR

Course delivery

Lecture

30 Hours.

Seminars / Tutorials

6 Hours.

Practical

6 Hours. 6 PC practical workshops

Assessment

Assessment Type	Assessment Length/Details	Proportion
Semester Exam	3 Hours	70%
Semester Assessment	2 pieces of coursework	30%
Supplementary Assessment	3 Hours exam and/or resubmission of coursework	100%

Learning outcomes

Having completed the module students will be able to:

Recognise a set of results from an OLS regression

Carry out a regression using microfit

Recognise key diagnostic tests

Describe the various remedies of these problems

Assess the policy implications of econometric models

Aims

This module introduces students to linear regression in economics, and the estimation, inference and hypothesis testing procedures involved. It builds from this introduction to help students to understand the implications of the failure of the assumptions which are fundamental to Ordinary Least Squares (autocorrelation, heteroscedasticity and multicollinearity) and the remedies to these failures.

Brief description

This module presents the basics of econometrics governing failure of the Gauss Markov assumptions and the remedy to these problems.

Content

Description of an Ordinary Least Squares regression
Key Gauss-Markov assumptions
Dummy variables
Multicollinearity
Autocorrelation + heteroskedasticity
Erros in the variables

Transferable skills

Independent work on assessed coursework requiring basic researching skills
Use of statistical computer software to assess economic performance
General economic and financial analysis of contemprary issues

Reading Lists

Books
** General Text
Koop, Gary. (2000.) Analysis of economic data /by Gary Koop. John Wiley 0471999156
Maddala, G. S. (1992.) Introduction to econometrics /G.S.Maddala. Maxwell Macmillan International 0023745452
Pesaran, M.Hashem (1997.) Working with Microfit 4.0 :interactive econometric analysis : [Dos version] /M.Hashem Pesaran and Bahram Pesaran. Oxford University Press 0192685309
Stewart, J (1991) Econometrics Philip Allan
** Recommended Text
Dougherty, C Introduction to Econometrics 2nd Edition. Oxford University Press
Gujarati, Damodar N. (2003.) Basic econometrics /Damodar N. Gujarati. McGraw-Hill 0071123431

Notes

This module is at CQFW Level 6